Jack Stratten's talk on "Selling the power of #retail #transparency" 🔎 at Source Fashion highlighted a few interesting #consumer #trends:
1. 88% of UK consumers say they want to buy from ethical, responsible brands, and 75% say transparency is a factor for how much they trust them.
2. Gen Z (60%) are spending more on #luxury than Gen X (46%) and Boomers (18%).
3. 60% of #fashion customers shop with more retailers than they did 5 years ago.
4. The average customer interacts with a brand across 20 different channels.
In a saturated market, consumers are increasingly shopping around, and influenced by exclusivity, quality and transparency.
Fashion Revolution states: "Transparency underpins sustainability – without transparency, achieving a sustainable, accountable and fair fashion industry will be impossible."
Brands need to consider how much longer they can get away with adopting opaqueness as a strategy, deliver consistent storytelling across all 20 channels, and own it, when they inevitably f**k up!
Can you guess which brand ushered in the following confession? 😉
Congratulations! Always wonderful to see talent from San Diego being highlighted!